National City Faces Shareholder Lawsuits

Shareholders of National City Corp. (NYSE: NCC) have filed lawsuits to halt the sale of the commercial bank to PNC Financial Services Group Inc. (NYSE: PNC) saying that the sale price was too low. Shares of National City dropped 16 cents to close at $1.98 while PNC stock plunged $3.63 to close at $52.12.